Displaying "Interest" in Investment Management
Hi all,
I've not posted in some time, but figured if anyone could answer this questions, it'd be people on TSR
The last time I posted I was looking for a career in law (in fact, I was just completing my Law with European Law degree at Nottingham Uni). However, since graduating (or at least, since my final year haha) I've been considering a move into finance. Initially this was because I decided I disliked law and my cousin who owns a recruitment agency said he'd be able to get me jobs in IM firms etc. Having attended a number of interviews with IM firms I've decided it's definitely something I want to go into.
My issues are as follows though:
- Law degree (not a problem in itself, it's just not mathematics or economics)
- Lack of experience
- Applications form asking for a demonstrable interest in Investment management...
I assume the latter two are related, but having been unemployed since July and not even really being able to get onto any internships (let alone real jobs!) I'm having trouble fathoming how to state I have an interest in Investment Management without something solid like experience to back it up!
Any ideas?
M4pk x
(P.S. apologies if this has been asked before!)
I've not posted in some time, but figured if anyone could answer this questions, it'd be people on TSR
The last time I posted I was looking for a career in law (in fact, I was just completing my Law with European Law degree at Nottingham Uni). However, since graduating (or at least, since my final year haha) I've been considering a move into finance. Initially this was because I decided I disliked law and my cousin who owns a recruitment agency said he'd be able to get me jobs in IM firms etc. Having attended a number of interviews with IM firms I've decided it's definitely something I want to go into.
My issues are as follows though:
- Law degree (not a problem in itself, it's just not mathematics or economics)
- Lack of experience
- Applications form asking for a demonstrable interest in Investment management...
I assume the latter two are related, but having been unemployed since July and not even really being able to get onto any internships (let alone real jobs!) I'm having trouble fathoming how to state I have an interest in Investment Management without something solid like experience to back it up!
Any ideas?
M4pk x
(P.S. apologies if this has been asked before!)
Set up an account and start trading ("investing") on the daily news e.g. or anything else you read on the internet....if you do this throughly you will have plenty to talk about in a live interview (100 pounds are enough to start e.g. an account at rbs AFAIK)
As for s.th. to put in a resume, I dont think there is anything you could do at this point. Maybe try to get some practical experience SOMEHOW related to investment management, this can prove to the other that you were interetested in this field, provided you put it well enough (even sorting the mail at a brokerage firm e.g.), so you might wanna try a part-time job at anything you can get your hands on and has the name investment management anywhere near its mission statement
As for s.th. to put in a resume, I dont think there is anything you could do at this point. Maybe try to get some practical experience SOMEHOW related to investment management, this can prove to the other that you were interetested in this field, provided you put it well enough (even sorting the mail at a brokerage firm e.g.), so you might wanna try a part-time job at anything you can get your hands on and has the name investment management anywhere near its mission statement
I was in a similar situation to you; IM grad schemes with no experience. I started spreadbetting and using this http://fantasyfundmanager.telegraph.co.uk/ to develop my interests after I graduated. Can't substitute for work experience but it's next next best thing IMO, and it provides something to talk about in interviews.
Also follow the financial news, and possibly look into some portfolio theory basics. Have a look at taking the IMC if you have the time and money.
Also follow the financial news, and possibly look into some portfolio theory basics. Have a look at taking the IMC if you have the time and money.
Also according to my experience: Try to make something up regarding to how law is well related to investment management (e.g. at law you need complete arguments without loopholes, as is important in investment management bla bla bla).
I always thought, if I made something just up where there wasn't really a connection unless you forced there one to be, then this would come out as stupid and dishonest. In contrast, my experience is that such well put connections are perceived at least as "real interest in getting the job" and thus positive.
I always thought, if I made something just up where there wasn't really a connection unless you forced there one to be, then this would come out as stupid and dishonest. In contrast, my experience is that such well put connections are perceived at least as "real interest in getting the job" and thus positive.
Your best choice, given your background, is to either do a postgrad or either an IMC or CFA. Obviously, the vast majority of people are in the same situation but your more disadvantaged by having completed university. You should also build up your knowledge of industries, companies, and valuation skills but if you are interested in IM then you should be doing this anyway. However, I would say that speaking about any investments you have made, and esp. any "virtual trading" you have done, isn't a good idea. Your pitch should not be that you understand what is going on but you are someone who wants to learn. Most firms do their training in-house and having a law degree, as opposed to Finance or whatever, really is not a big deal. So your best idea is to get a solid qualification and build up your knowledge to the level that you can have a decent conversation with someone about various industries and companies, they aren't looking for you to be a finance geek.
@crcr
without a doubt he has bad chances at the moment. nevertheless, he wants to give it a shot this time and the above is, as I believe, the best way to show "fascination" for this subject. in case he doesn't succeed this year, as I think is likely, he should have some Plan B running which is to get some practical experience (better) or some IMC/CFA-paper (better than nothing)
without a doubt he has bad chances at the moment. nevertheless, he wants to give it a shot this time and the above is, as I believe, the best way to show "fascination" for this subject. in case he doesn't succeed this year, as I think is likely, he should have some Plan B running which is to get some practical experience (better) or some IMC/CFA-paper (better than nothing)
hi, i am in a similar position doing a non finance degree but i haven't finished the course yet
what books do you recommend for me to get into virtual trading?
what would you recommend for me to get into spreadbetting and how to understand the financial news?
what books did you get because i am in a similar position to you.
what books do you recommend to get into IM.
Original post by henryt
You don't even need to invest your money. One of the major things I spoke about in my interviews was how I ran my own virtual portfolios, and how I'd tried a few different strategies and which books had told me about the bare bones of each of them.
what books do you recommend for me to get into virtual trading?
Original post by salmon1
I was in a similar situation to you; IM grad schemes with no experience. I started spreadbetting and using this http://fantasyfundmanager.telegraph.co.uk/ to develop my interests after I graduated. Can't substitute for work experience but it's next next best thing IMO, and it provides something to talk about in interviews.
Also follow the financial news, and possibly look into some portfolio theory basics. Have a look at taking the IMC if you have the time and money.
Also follow the financial news, and possibly look into some portfolio theory basics. Have a look at taking the IMC if you have the time and money.
what would you recommend for me to get into spreadbetting and how to understand the financial news?
Original post by m4pk
Oh brilliant! Excellent ideas! Well I've got a bunch of books from the library (and on my kindle - there goes the last of my xmas gift certificates haha) on recommendations from friends who've studied Economics
Time to put it all to the test and work my way in
M4pk x
Time to put it all to the test and work my way in
M4pk x
what books did you get because i am in a similar position to you.
Original post by crcr
Your best choice, given your background, is to either do a postgrad or either an IMC or CFA. Obviously, the vast majority of people are in the same situation but your more disadvantaged by having completed university. You should also build up your knowledge of industries, companies, and valuation skills but if you are interested in IM then you should be doing this anyway. However, I would say that speaking about any investments you have made, and esp. any "virtual trading" you have done, isn't a good idea. Your pitch should not be that you understand what is going on but you are someone who wants to learn. Most firms do their training in-house and having a law degree, as opposed to Finance or whatever, really is not a big deal. So your best idea is to get a solid qualification and build up your knowledge to the level that you can have a decent conversation with someone about various industries and companies, they aren't looking for you to be a finance geek.
what books do you recommend to get into IM.
Original post by Jed123
what would you recommend for me to get into spreadbetting and how to understand the financial news?
what would you recommend for me to get into spreadbetting and how to understand the financial news?
http://www.trade2win.com/articles/744-spreadbetting-beginners - maybe start here for spreadbetting. It's advised to spend a good few months paper trading and learning before you plough in with your own savings.
Regarding the financial news: select a news medium of your choice (i like the FT) and... read it i guess. I find investopedia helpful for terminology etc. You'll pick it up.
The FT also do a student subscription package = 1 month for £1
Original post by salmon1
Regarding the financial news: select a news medium of your choice (i like the FT) and... read it i guess. I find investopedia helpful for terminology etc. You'll pick it up.
The FT also do a student subscription package = 1 month for £1[/QUOTE]
Out of interest is that for people who are at uni? And is that subscription include paper and web access?
[QUOTE="Hackett;36176478"]
Yes, daily paper delivery and web access. It's supposedly for students but I used it after I'd graduated with no problems. What's more, you can get housemates and/or relatives to subscribe to it once yours has expired
Original post by salmon1
http://www.trade2win.com/articles/744-spreadbetting-beginners - maybe start here for spreadbetting. It's advised to spend a good few months paper trading and learning before you plough in with your own savings.
Regarding the financial news: select a news medium of your choice (i like the FT) and... read it i guess. I find investopedia helpful for terminology etc. You'll pick it up.
The FT also do a student subscription package = 1 month for £1[/QUOTE]
Out of interest is that for people who are at uni? And is that subscription include paper and web access?
Regarding the financial news: select a news medium of your choice (i like the FT) and... read it i guess. I find investopedia helpful for terminology etc. You'll pick it up.
The FT also do a student subscription package = 1 month for £1[/QUOTE]
Out of interest is that for people who are at uni? And is that subscription include paper and web access?
Yes, daily paper delivery and web access. It's supposedly for students but I used it after I'd graduated with no problems. What's more, you can get housemates and/or relatives to subscribe to it once yours has expired
Original post by salmon1
[QUOTE="salmon1;36177083"]
Original post by Hackett
Yes, daily paper delivery and web access. It's supposedly for students but I used it after I'd graduated with no problems. What's more, you can get housemates and/or relatives to subscribe to it once yours has expired
Yes, daily paper delivery and web access. It's supposedly for students but I used it after I'd graduated with no problems. What's more, you can get housemates and/or relatives to subscribe to it once yours has expired
can you link me to it please.
[QUOTE="Jed123;36177214"]
I've become pretty good at googling over the years https://www.ftsub.com/WSMAAI/
Original post by salmon1
can you link me to it please.
can you link me to it please.
I've become pretty good at googling over the years https://www.ftsub.com/WSMAAI/
Ideas for "virtual" or "real" trading in order to be able to have deep discussions with people:
1. Technical trading:
A) First, read the scientific papers which say (in a nutshell) that there is no evidence that market patterns which can be exploited exist, you have to google that one, but you will ultimately get some results
B) Now get some financial data of SP500 of the last 10 years, copy/past them into Excel and play a little VBA on technical strategies and check how they performed in the last 10 years. those which were successful, go with them and trade a little bit (long/short the index)
2. Fundamental analysis:
A) See what successfull value investors have in their portfolios and assert a portion of your total assets into these stocks (this task may take you about 2 days if done thoroughly. After that you can talk at length about value investing, which companies are hot at the moment, and what some of the big guys are doing)
B) Read about the european credit crisis, and then decide if you believe that things will get worse or not in contrast to the american economy (then go short or respectively long the EUR/USD)
C) Read, as detailled above, daily news and get to some conclusions about what you think overperform e.g. within US stocks (then buy this stock and short the index)
If you do the above things, you will eventually start to create your own ideas and opinions in addition to getting some street knowledge. My hypothesis of course is, that you are indeed interested in investment management. If not, you will have a hard time and maybe won't be able to really remember enough things, because then this is what you have to, learn these things by heart like vocabulary, instead of learn them because of genuine interest which is at least 10 times easier.
1. Technical trading:
A) First, read the scientific papers which say (in a nutshell) that there is no evidence that market patterns which can be exploited exist, you have to google that one, but you will ultimately get some results
B) Now get some financial data of SP500 of the last 10 years, copy/past them into Excel and play a little VBA on technical strategies and check how they performed in the last 10 years. those which were successful, go with them and trade a little bit (long/short the index)
2. Fundamental analysis:
A) See what successfull value investors have in their portfolios and assert a portion of your total assets into these stocks (this task may take you about 2 days if done thoroughly. After that you can talk at length about value investing, which companies are hot at the moment, and what some of the big guys are doing)
B) Read about the european credit crisis, and then decide if you believe that things will get worse or not in contrast to the american economy (then go short or respectively long the EUR/USD)
C) Read, as detailled above, daily news and get to some conclusions about what you think overperform e.g. within US stocks (then buy this stock and short the index)
If you do the above things, you will eventually start to create your own ideas and opinions in addition to getting some street knowledge. My hypothesis of course is, that you are indeed interested in investment management. If not, you will have a hard time and maybe won't be able to really remember enough things, because then this is what you have to, learn these things by heart like vocabulary, instead of learn them because of genuine interest which is at least 10 times easier.
Original post by MZad
Ideas for "virtual" or "real" trading in order to be able to have deep discussions with people:
1. Technical trading:
A) First, read the scientific papers which say (in a nutshell) that there is no evidence that market patterns which can be exploited exist, you have to google that one, but you will ultimately get some results
B) Now get some financial data of SP500 of the last 10 years, copy/past them into Excel and play a little VBA on technical strategies and check how they performed in the last 10 years. those which were successful, go with them and trade a little bit (long/short the index)
1. Technical trading:
A) First, read the scientific papers which say (in a nutshell) that there is no evidence that market patterns which can be exploited exist, you have to google that one, but you will ultimately get some results
B) Now get some financial data of SP500 of the last 10 years, copy/past them into Excel and play a little VBA on technical strategies and check how they performed in the last 10 years. those which were successful, go with them and trade a little bit (long/short the index)
i agree, this will teach him the valuable lesson that you can always uncover "profitable" strategies simply by trying out enough different strategies
I did start with A, so that he would not confuse past profitable strategies with the idea that there is "free" money in the markets. however, having done A and B, he will be able to talk....the story should be s.th. like this: i studied A and bla bla bla but I wanted to check for myself, so I did B and bla bla bla and ultimately it fits with my observations from A
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